Markets

Owing to the historic inflation, Q3 has been painful for Bitcoin. The largest cryptocurrency by market cap appears to have largely lost its inflation hedge and store-of-value narratives in the market. According to Messari’s new report, the demand for block space fell, resulting in a decline in Bitcoin’s transaction count and fees by roughly 3% and 23%, respectively. The average daily value settled also plunged 44% QoQ. While Bitcoin’s hashrate reached a new milestone of 258...

The Bitcoin closed a daily candle above $20,000 on Tuesday, marking the highest daily close in about 24 days. That’s after trading range-bound from the $19K to $20K level for the latter half of September. Foreign pressure on the Fed to slow rate hikes and a low supply of bitcoin on crypto exchanges rallied the price of BTC. The Near Term Assessment of Bitcoin Traders As markets watch the price of BTC move on crypto exchanges this month, traders are assessing bitcoin’s...

The Markets in Crypto-Assets (MiCA) regulation passed in the European Council on October 5th. The development is a significant step toward bringing a consistent legislative landscape to the continent that has been, so far, fragmented. The text of the laws was signed off by the representatives of the bloc’s member governments in the EU’s Council. The policies are expected to go into effect in 2024. Creating a Consistent Regulatory Framework in the EU MiCA will eliminate the...

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Solana price started a decent increase from the $31.80 support against the US Dollar. The price is now trading above $33 and the 55 simple moving average (4-hours). There is a major contracting triangle forming with support near $32.50 on the 4-hours chart of the SOL/USD pair (data feed from Coinbase). The pair must clear $34.50 and $35 to continue higher in the near term. Solana price is trading above $34 against the US Dollar, similar to bitcoin. SOL could start a...

Philip Jefferson – one of the Federal Reserve’s three newest governors – has re-emphasized the central bank’s plans to continue fighting inflation.  The former college professor said he and his colleagues are committed to taking “further steps necessary” to address the problem, and gave no indication that they would consider dovish monetary policy in the near term.  Fed Will Stay the Course The governor delivered his remarks to a conference in Atlanta organized by three of...

Though Bitcoin’s price has been suppressed for months, this may not necessarily mean that adoption of the asset is slowing down.  On-chain data from IntoTheBlock shows that the number of non-zero Bitcoin addresses has steadily increased since the crypto market peak in November.  People, or Addresses? As the crypto intelligence platform indicates, about 41.9 million addresses currently hold a balance on Bitcoin’s network. That’s narrowly shy of the all-time high of 42.07...

Cryptocurrencies have risen to prominence over the past few years, and many retail and institutional investors are seeking direct and indirect exposure to digital assets. But while the industry offers multiple investment options, navigating the market in search of the most profitable opportunities can be daunting. For instance, most users have to create accounts on different crypto platforms to access investment opportunities and spend their profits. Thankfully, some...